When macroeconomists use the term "recession" they usually define it as a fall in real GDP that lasts for at least
A)three quarters.
B)two quarters.
C)two years.
D)one quarter.
E)one year.

Question

Quizplus · Accepted Answer

When macroeconomists use the term "recession," they typically define it as a significant decline in economic activity measured by a decrease in real gross domestic product (GDP) for at least two consecutive quarters, or six consecutive months.

When Macroeconomists Use the Term "Recession" They Usually Define It